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More than 1,000 people jammed themselves between expensive cars, oriental rugs, antique furniture and original paintings in Rehoboth Beach Convention Center Sunday, Feb. 17, to watch the spectacle of Delaware license tag No. 6 auctioned off for a record $675,000.
Although 11 bidders showed $50,000 checks to establish their seriousness, auctioneer Butch Emmert quickly reduced the bidding war to a battle between the capital of Fusco Management Co. and that of Tim Ayers, publisher of The Guide. Fusco won.
Ayers, who has a home in Lewes, sat about six rows back – dead center – in the chairs assembled for the auction’s main event. Frank Vassallo, grandson of Fusco Management scion Anthony Fusco, stood, wedged in the pressing crowd off to the auctioneer’s left. He held a cell phone hard against his ear, trying to hear – above the din of the convention center crowd – voices of his father and grandfather beamed from California, where they are vacationing in Palm Springs.
Emmert invoked upstate and downstate rivalry as he tried to whip the bidding higher. “It’s Sussex against New Castle.” His voice boomed against the walls of the center and the crowd loved it. “Today’s price will be a world record for a Delaware tag, but it will be a Delawarean who gets it.”
When a moment of confusion arose over which bidder bumped the price to $625,000, Emmert did a quick mental eenie, meenie, minie mo and pointed to Ayers. “OK, you’re in for $625,000.” Then he twisted immediately toward the black-bearded Vassallo. “Do you want to take it right up to $650,000?”
After some quick back and forth over the phone, Vassallo signaled with a thumbs up and another $25,000 was added to the value of the only Delaware single-digit automobile tag sold so far this century.
Eyes shifted back to Ayers. He considered the tag, considered the price and considered the not-inconsiderable peer pressure around him that was practically levitating him above his folding chair.
“Go for it Tim,” rang out one voice.
“Do it for the home team,” shouted another.
When he bumped the price to $660,000, the cheers were loud and spontaneous, and he felt the strong adoration that ended up costing him nothing.
When the cheering ebbed, Emmert moved the battle to the international level. “I just saw today that in Dubai, their tag No. 1 sold for $14 million. That’s the United Arab Emirates. Do you really think the Arabs have more money than Delawareans?”
The crowd laughed and Emmert turned back to the young man. “Do I hear $675,000?”
Again Vassallo nodded, again the crowd cheered and again eyes shifted back to Ayers. But that was it for him. Despite Emmert’s quote from his grandmother – “Anything worth $675,000 is worth $700,000” – Ayers sat quietly, motionlessly.
Three minutes later Emmert, after “Going once, going twice,” swung his arm toward Vassallo and hollered out “Sold” to the Fusco family for $675,000. The heat of the excitement and throngs of people pushed together gave way to cameras, microphones, notebooks and reporters swarming over Vassallo.
Off to the side, Ayers watched. “I knew the bidding wasn’t going to stop there. That’s why I didn’t go any higher. I thought I would go to $500,000 and then went beyond that to $660,000 but that was it.”
Ayers said he owns Delaware tag No. 11 and would have liked to add No. 6. “No. 11 was owned by Gov. Elbert Carvel of Laurel. He served two terms as governor and the governor gets tag No. 1, so when he retired the state gave him the tag with two ones on it. I bought it from his estate.”
Vassallo said despite the problems hearing his father and grandfather on the cell phone, he knew they were being aggressive and confident. “We didn’t have a cap in mind – we just wanted the tag for the family,” he said.
Aaron Dunphy-Linnartz of LowDigitTags.com said after the sale that he recently sold the Fusco family tag No. 17 for just under $300,000. “Their collection now includes No. 6, 9, 17, 18, 51 and 61, and they have been appreciating at just under 10 percent per year.”
“For us, it’s more family business,” said Vassallo. “We’re keeping them in the company, and we’re staying in Delaware.”
Fusco Management Co. develops commercial/retail real estate projects from its offices in the city of New Castle. Vassallo said one of the company’s most well-known projects is the College Square Shopping Center in Newark.
Vassallo’s grandfather, Anthony Fusco, bought the No. 9 tag at an Emmert auction in the early 1990s. That tag brought $185,000. Vassallo said he didn’t know what car the tag would go on. He said his grandfather displays No. 9 on his Mercedes S550 and also said No. 6 will probably be registered to one of the family cars.
A number of other tags were also sold at Emmert’s annual Presidents Day weekend sale. Tag No. 839 brought a high bid of $40,000 and motorcycle tag No. 8 brought $18,000.
Contact Dennis Forney at dnf@capegazette.com
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